Italcementi sells 5.24% of West China Cement

Italian cement manufacturer Italcementi has sold its 5.24% stake in West China Cement, which is listed on the Hong Kong stock exchange, through its Chinese subsidiary, CimFra. The operation is worth HKD 341 million (€38.80 million/US$44 million), subject to adjustments relating to a derivative contract that was underwritten with Credit Agricole CIB at the same time.
September 25, 2015 Read time: 1 min

Italian cement manufacturer 726 Italcementi has sold its 5.24% stake in 8042 West China Cement, which is listed on the Hong Kong stock exchange, through its Chinese subsidiary, CimFra.

The operation is worth HKD 341 million (€38.80 million/US$44 million), subject to adjustments relating to a derivative contract that was underwritten with Credit Agricole CIB at the same time.

Auctions, Used Equipment, Rental & Finance

For more information on companies in this article

Related Content

May 16, 2013

Italcementi extends five-year bond by €150mn

Italian cement manufacturer Italcementi has reopened the five-year senior bond originally launched on 21 February 2013. While the bond was originally valued at €350 million this has now been extended by an additional €150 million. The issue is being managed by UniCredit, Natixis, BNP Paribas, Banca IMI and Credit Agricole CIB.

March 18, 2014

Italcementi to merge with Ciments Francais?

It is reported that Italian cement manufacturer Italcementi may be working on a plan to merge with French peer Ciments Francais. Italcementi currently holds an 83.1% stake in Ciments Francais, and its parent company holds a 2.7% stake, while a 13% stake of Ciments Francais capital is listed on Paris stock exchange. According to financial analysts, the operation may save up to €200 million of costs.
Italcementi has also been put under observation by Moody's for a possible rating upgrade. Currently, the firm

boombox1

Highlighted Content

boombox2